Certax Accounting - Sandbach

Certax Accounting - Sandbach We are a local professional firm of chartered certified accountants that can assist you with your pe

Capital Gains Tax – When a relief causes a headacheI've posted before about the requirement to report and pay Capital Ga...
16/06/2026

Capital Gains Tax – When a relief causes a headache

I've posted before about the requirement to report and pay Capital Gains Tax on the sale of residential property within 60 days. Despite the rules having been in place for several years, this remains one of the biggest knowledge gaps I see among property owners, but it's not the only one...

I recently spoke to a client who had sold a flat and assumed no CGT was due because it was the only property they owned. Their thinking was that Principal Private Residence (PPR) relief would apply automatically.

The catch? They had never lived in the flat. It had always been a buy-to-let investment, while they lived in a property they rented from someone else.

Owning just one property doesn't automatically qualify it for PPR relief. The property must have been your main residence.

The result? No PPR relief and a last-minute scramble to complete and submit the 60-day CGT return to HMRC before the deadline.

Director-shareholders: there's an important new disclosure requirement coming to Self-Assessment tax returns from 2025–2...
11/06/2026

Director-shareholders: there's an important new disclosure requirement coming to Self-Assessment tax returns from 2025–26.

If you are both a director and shareholder of a close company (generally one with five or fewer shareholders), there are additional reporting requirements on your Self-Assessment tax return for the year ending 5 April 2026.

In previous years, directors would typically:
• Tick a box to declare they were a company officer who received no remuneration if no PAYE salary was paid.
• Complete an Employment page if they received PAYE income from the company.
• Report any dividends received (as a shareholder) in the dividends section of the tax return.

From 2025–26, there is an additional reporting requirement for director-shareholders. You will need to disclose:
• The company name and company registration number.
• The percentage of shares you owned in the year.
• The amount of dividends received during the tax year (even if this is nil).

The key point to note: The information relating to your directorship must be entered on the Employment pages of the Self-Assessment tax return.

As a result, you will need to complete an Employment page for each relevant directorship, even if:
• You receive no PAYE remuneration,
• The company does not have an employer PAYE reference, and/or
• No dividends have been paid during the year,

If you are a director-shareholder and complete your own tax return, make sure you are aware of these new disclosure requirements before filing your 2025–26 return.

Dividends: Get the basics right!It's hard when you run your own company to remember that you are wearing different hats ...
09/06/2026

Dividends: Get the basics right!

It's hard when you run your own company to remember that you are wearing different hats depending on the task at hand. Most of the time, you are a director of the company, making sales, managing finances, clients, and possibly staff, but you’re also probably the main or only shareholder of the company, and when you are wearing that hat, you’re going to want to know what post-tax profits are available for possible dividend distribution to you.

All too often, with a lack of clear separation between directors and shareholders, dividends are paid without being thorough with the paperwork, and this can lead to issues later should the company find itself falling on hard times, cash flow-wise or if HMRC begin an investigation.

So always follow the basic steps, no matter how daft it feels, having a board meeting where you’re the only person at the table:

1. Check the company accounts to ensure the company has enough distributable profits after tax and other liabilities – It’s not about how much is in your company bank account! Ask your Accountant if you’re not sure.

2. Hold a directors meeting- Yes, even if there is only one of you! The meeting minutes should show the dividend to be paid to shareholders. It can take just a couple of minutes if there’s nothing else you want to discuss with yourself 😊

3. Prepare a dividend voucher – Just a simple slip of paper to say: £x amount of dividend is due to Mr X, a shareholder of ABC Ltd, on a particular date.

4. Pay the dividend – For directors who are also shareholders, you can put the dividend entry as a journal entry to your Directors' Loan Account to be paid out in stages if you prefer.

Do you understand how Gift Aid works – and whether you're eligible to claim it?Gift Aid is a fantastic way to increase t...
03/06/2026

Do you understand how Gift Aid works – and whether you're eligible to claim it?

Gift Aid is a fantastic way to increase the value of your charitable donations at no extra cost to you. When an individual makes a Gift-Aided donation, the charity can claim an additional 25p for every £1 donated from HMRC (effectively receiving the basic rate income tax that the individual has previously paid to HMRC on their income or capital gains).

For example, a £200 donation becomes £250 for the charity.

If you're a higher-rate taxpayer, the charity still only receives the value of the basic rate tax that you have paid to HMRC, but you can receive the additional tax you suffered, via your Self-Assessment tax return. The tax relief is given to you by increasing your basic rate tax threshold, allowing you to earn more before being liable to pay higher rate tax.

However, there are some important rules to be aware of.

Gift Aid only applies to donations made by individuals. Companies can receive Corporation Tax relief on charitable donations, but they must not tick the Gift Aid declaration, as companies do not pay the type of tax that charities reclaim through Gift Aid.

Individuals also need to ensure they have paid enough Income Tax and/or Capital Gains Tax during the tax year to cover the amount the charity reclaims from HMRC.

Here's a simple example:
If you earn £13,000 and pay £86 in tax, then make a £200 Gift-Aided donation, the charity can claim £50 from HMRC. As you've paid more tax (£86) than the Gift Aid claimed (£50), there's no issue.
But if your income falls to £12,750 and you only pay £36 in tax, while still making the same £200 Gift-Aided donation, the charity can still claim £50. In this case, HMRC has refunded more tax than you paid, so they will expect you to pay the £14 difference.

Gift Aid is a valuable scheme for both donors and charities, but it's worth checking that you're eligible before ticking the box.

State Pension payment days:A fun fact for the week: UK state pensions are generally paid every 4 weeks in arrears, but d...
01/06/2026

State Pension payment days:

A fun fact for the week: UK state pensions are generally paid every 4 weeks in arrears, but did you know that the day of the week you receive your pension is determined by the last 2 digits of your NI number?

Using these numbers to determine which day of the week to pay each pensioner helps spread the large volume of payments out.

Also good to know that if your payment is due on a bank holiday, then it is normally paid on the last working day before the bank holiday.

Where did I put that document?With so much of life now happening digitally, it can be difficult to keep track of all the...
21/05/2026

Where did I put that document?

With so much of life now happening digitally, it can be difficult to keep track of all the documents and information needed to prepare your tax return. Some of you may even remember — perhaps nostalgically — receiving statements and dividend vouchers in the post and filing them neatly in a binder ready for tax season.

So, where should you look for things now?

• Tax coding – If you’ve signed up for a Personal Tax Account (PTA) with HMRC, your tax codes will usually be available there.
• State Pension – Keep hold of the annual letter or email confirming your pension increase, as this is an important document for your tax return.
• Bank interest – Interest certificates can often be downloaded directly from your online banking account or app.
• Dividend vouchers – These may be posted, emailed, or available to download from an online shareholder portal.
• Investment accounts – Similar to dividends, your broker may provide a year-end tax certificate by post, email, or through their investor portal.

And remember: if you move house or change your email address, make sure you update your details with banks, investment providers, HMRC, and pension providers — otherwise important communications may not reach you.

Use of Home as Office allowance changesFrom April 2026, the use of home as an office tax relief for non-reimbursed home-...
19/05/2026

Use of Home as Office allowance changes

From April 2026, the use of home as an office tax relief for non-reimbursed home-working expenses has been abolished, so the 2025-26 self-assessment tax return is the last time employees who are REQUIRED to work from home by their employer will be able to claim the £6/week allowance.

If your employer requires you to work from home and you incur additional expenses as a result, you should discuss reimbursement with your employer going forward.

Corporation Tax – Do you know when yours is due?There are so many deadlines and payment dates to remember when running y...
14/05/2026

Corporation Tax – Do you know when yours is due?

There are so many deadlines and payment dates to remember when running your own business, so here's a little visual reminder of when your corporation tax will be due based on your company's year-end.

When is the State Pension taxed?As you pull together all your information for your tax return, make sure you know what f...
12/05/2026

When is the State Pension taxed?

As you pull together all your information for your tax return, make sure you know what figures to include from your various income sources.

State Pension figures, for example, need to be the amount that was due to you in the tax year to 5th April 2026, and this may not be quite the same as the amount paid into your bank account up to the 5th April 2026.

The State Pension is actually taxed on an accruals basis rather than a cash basis, and if you receive your pension 4 weekly, it will depend on where in the 4-weekly cycle your payment falls as the tax year ended.

It's important to keep a copy of the letter DWP issues each year telling you what your State Pension entitlement will be in the following tax year!

HMRC payment deadlines – Have you missed any recently?With so much to remember when running your own business, it's easy...
08/05/2026

HMRC payment deadlines – Have you missed any recently?

With so much to remember when running your own business, it's easy for something to slip through the net, and it's all too often something with consequences, like making a payment to HMRC, whether it be VAT, PAYE or self-assessment tax. Late payment can lead to penalties and/or interest being added to the balance owed.

There is an easier way to pay – You can set up direct debits for most HMRC payments, so you never miss a payment deadline again, and in the case of your quarterly VAT payments, you even get a few extra days to pay (normal deadline is 7th of the month, DD’s are usually taken between the 10th and 12th of the month).

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9 Vicarage Gardens
Sandbach
CW113BZ

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Monday 9:30am - 5:30pm
Tuesday 9:30am - 5:30pm
Wednesday 9:30am - 5pm
Thursday 9:30am - 5:30pm
Friday 10am - 6pm
Saturday 10am - 6pm

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